PayPal’s money transfer arm Xoom is now offering customers in the U.S., U.K., Canada and Europe the ability to send secure funds to 12 countries in Africa for a reduced fee. Xoom is a fast, simple, and secure way to send money, reload phones, and pay bills for people around the world. Using the service, people can now send money to select countries in Africa with transaction fees of 2 to 4 percent.
People can use Xoom for mobile money transfers in Burundi, Cameroon, Ghana, Kenya, Madagascar, Malawi, Mozambique, Rwanda, Tanzania, Uganda, Zambia and Zimbabwe. The company is planning to roll out into more markets next year.
How much money can you send using Xoom?
You can send money at up to three different levels. At each level, there is a maximum amount of money that you can send within a certain period of time. Sending limits are based on:
- Where you live
- How the money is received
- Partner limits, which vary by country. Xoom partners include the banks, cash pick up locations and other services that enable your recipient to receive the money you send.
When using a currency other than the one listed for your country or region, the limit will be an equivalent amount based on Xoom’s exchange rate at the time.
Xoom was acquired by PayPal in 2015 for $890 million in an all-cash deal at $25 per share. It operates independently under the PayPal umbrella of companies. In July, PayPal announced that Xoom was being rolled in in the U.K. and 31 markets across Europe.